Jeffrey H. Kripitz Sells 1,000 Shares of Parke Bancorp, Inc. (NASDAQ:PKBK) Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) Director Jeffrey H. Kripitz sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $20.00, for a total transaction of $20,000.00. Following the completion of the sale, the director now owns 52,874 shares of the company’s stock, valued at approximately $1,057,480. The trade was a 1.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Parke Bancorp Price Performance

Parke Bancorp stock opened at $19.48 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. Parke Bancorp, Inc. has a one year low of $15.24 and a one year high of $24.29. The company has a market cap of $231.62 million, a P/E ratio of 8.58 and a beta of 0.72. The business has a fifty day moving average of $20.67 and a two-hundred day moving average of $20.79.

Parke Bancorp (NASDAQ:PKBK) last announced its quarterly earnings data on Friday, January 24th. The bank reported $0.61 EPS for the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%.

Parke Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Friday, January 3rd. Parke Bancorp’s dividend payout ratio (DPR) is 31.72%.

Hedge Funds Weigh In On Parke Bancorp

Several hedge funds have recently bought and sold shares of PKBK. Geode Capital Management LLC boosted its position in Parke Bancorp by 0.6% during the third quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock worth $4,845,000 after purchasing an additional 1,447 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Parke Bancorp by 5.1% during the 4th quarter. Empowered Funds LLC now owns 47,799 shares of the bank’s stock worth $980,000 after buying an additional 2,333 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Parke Bancorp by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,324 shares of the bank’s stock worth $622,000 after buying an additional 1,574 shares in the last quarter. Fourthstone LLC grew its stake in Parke Bancorp by 11.8% in the 3rd quarter. Fourthstone LLC now owns 26,957 shares of the bank’s stock valued at $563,000 after acquiring an additional 2,844 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Parke Bancorp by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock valued at $336,000 after acquiring an additional 1,842 shares during the last quarter. 49.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Parke Bancorp from a “buy” rating to a “hold” rating in a report on Monday, January 27th.

Parke Bancorp Company Profile

Parke Bancorp, Inc operates as the bank holding company for Parke Bank that provides personal and business financial services to individuals and small to mid-sized businesses. The company offers various deposit products, including checking, savings, time, money market, and individual retirement accounts, as well as certificates of deposit.